Add a Bank
If you need to add a new bank after the Property Setup or Single-Family Housing Wizard is completed, Find – Banks > click on Add a New Database Record button on the toolbar.
This will open a blank screen for entry of the new bank. Type in the bank name and address information and click on the save button. We suggest making the bank name something easily identifiable, e.g. (Building Name) Checking or (Building Name) Security Deposits, or Trust Operating or Trust Deposits, etc. This bank name won't appear on anything official, such as checks, but having 50 bank accounts called First National Bank makes selecting the right bank more difficult.
When you have saved the bank name and address and saved, click on the Bank Edit button.
Select the Building where the bank account will be stored.
Give this bank account a unique short name.
Select the Building/Department and Account number from the drop-down list. Each bank entered must have its own GL account if there are more than one bank set up for a building.
If this bank account will be used by other buildings, enter a Due to/from account number without a sub account. This account forms each building's contribution to the central trust bank account. For more information on trust accounting, please see the help files. These accounts do not need to exist in the chart of accounts as the system will add these Due to/from accounts to each building’s chart of accounts as and when they are needed.
Enter the actual bank account number.
Enter a starting number or let the system auto-assign a number starting at 1.
Enter the last check number used, so that the system knows the starting check number to assign on the next check run.
If you wish the American bank to print a "45" on the MICR line, two things are required: 1. Enter the currency exactly as "U.S. Funds" and 2. Select the option on the MICR Setup screen.
Canadian clients must select the option for CPA Standard 006 forms. If the "CPA Standard 006" option is selected, the "Date Format" field displays showing the options of MMDDYYYY, DDMMYYYY, or YYYYMMDD.
Only Active Banks will display in any lists of banks in receipts, disbursements, or cash reports. If you no longer use a bank account, simply remove the above flag from this screen to remove this bank from any of these lists.
Once all the bank information has been entered, click on the Save button on the toolbar. Then click on the Close Window button to exit.